BIRLA CORPORATION LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,484 INR | -3.16% |
|
+2.93% | +2.96% |
| May. 07 | Jefferies Adjusts Birla’s Price Target to INR1,595 From INR1,475, Keeps at Hold | MT |
| May. 06 | Transcript : Birla Corporation Limited, Q4 2024 Earnings Call, May 06, 2024 |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 40,432 | 32,111 | 73,190 | 90,824 | 68,311 | 114,284 | - | - |
| Enterprise Value (EV) 1 | 70,913 | 32,111 | 97,883 | 121,261 | 104,101 | 109,686 | 142,655 | 139,697 |
| P/E ratio | 15.8 x | 6.36 x | 11.6 x | 22.8 x | 169 x | 26.1 x | 18.5 x | 14.9 x |
| Yield | 1.43% | 1.8% | 1.05% | 0.85% | 0.28% | 0.48% | 0.73% | 0.81% |
| Capitalization / Revenue | 0.62 x | 0.46 x | 1.08 x | 1.22 x | 0.79 x | 1.14 x | 1.1 x | 1.02 x |
| EV / Revenue | 1.08 x | 0.46 x | 1.44 x | 1.63 x | 1.2 x | 1.14 x | 1.38 x | 1.24 x |
| EV / EBITDA | 7.48 x | 2.4 x | 7.32 x | 10.9 x | 13.5 x | 7.63 x | 8.48 x | 7.4 x |
| EV / FCF | 11 x | 9.16 x | 18.6 x | 46.9 x | 59.7 x | 24.9 x | 20.5 x | 17.9 x |
| FCF Yield | 9.09% | 10.9% | 5.36% | 2.13% | 1.68% | 4.02% | 4.88% | 5.58% |
| Price to Book | 0.9 x | 0.67 x | 1.33 x | 1.5 x | 1.14 x | 1.81 x | 1.63 x | 1.49 x |
| Nbr of stocks (in thousands) | 77,005 | 77,005 | 77,005 | 77,005 | 77,005 | 77,005 | - | - |
| Reference price 2 | 525.0 | 417.0 | 950.4 | 1,179 | 887.1 | 1,484 | 1,484 | 1,484 |
| Announcement Date | 5/3/19 | 5/22/20 | 5/12/21 | 5/11/22 | 5/9/23 | 5/4/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 65,487 | 69,157 | 67,854 | 74,612 | 86,823 | 96,627 | 103,588 | 112,426 |
| EBITDA 1 | 9,486 | 13,360 | 13,376 | 11,100 | 7,720 | 14,376 | 16,825 | 18,880 |
| EBIT 1 | 6,095 | 9,841 | 9,668 | 7,131 | 2,621 | 8,593 | 10,999 | 12,560 |
| Operating Margin | 9.31% | 14.23% | 14.25% | 9.56% | 3.02% | 8.89% | 10.62% | 11.17% |
| Earnings before Tax (EBT) 1 | 3,174 | 6,815 | 7,126 | 5,378 | 431.1 | 5,799 | 8,389 | 10,257 |
| Net income 1 | 2,557 | 5,052 | 6,301 | 3,986 | 405 | 4,206 | 6,180 | 7,676 |
| Net margin | 3.9% | 7.3% | 9.29% | 5.34% | 0.47% | 4.35% | 5.97% | 6.83% |
| EPS 2 | 33.21 | 65.60 | 81.83 | 51.76 | 5.260 | 54.61 | 80.24 | 99.68 |
| Free Cash Flow 1 | 6,444 | 3,505 | 5,249 | 2,586 | 1,744 | 5,986 | 6,966 | 7,792 |
| FCF margin | 9.84% | 5.07% | 7.74% | 3.47% | 2.01% | 6.16% | 6.72% | 6.93% |
| FCF Conversion (EBITDA) | 67.93% | 26.24% | 39.24% | 23.29% | 22.6% | 41.92% | 41.4% | 41.27% |
| FCF Conversion (Net income) | 252.03% | 69.39% | 83.3% | 64.87% | 430.74% | 138.35% | 112.72% | 101.51% |
| Dividend per Share 2 | 7.500 | 7.500 | 10.00 | 10.00 | 2.500 | 7.090 | 10.88 | 12.09 |
| Announcement Date | 5/3/19 | 5/22/20 | 5/12/21 | 5/11/22 | 5/9/23 | 5/4/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 17,766 | 21,326 | 17,491 | 16,978 | 17,501 | 22,642 | 22,038 | 19,998 | 20,161 | 24,626 | 24,085 | 22,338 | 23,178 | 26,172 | 24,960 |
| EBITDA 1 | 3,297 | 3,920 | 3,436 | 2,673 | 2,224 | 2,767 | 2,593 | 939.6 | 1,444 | 2,743 | 2,978 | 2,912 | 3,506 | 4,068 | 3,875 |
| EBIT | - | - | 2,452 | 1,691 | - | 1,770 | 1,448 | - | 145.5 | 1,342 | - | 1,972 | 1,945 | 2,539 | 2,371 |
| Operating Margin | - | - | 14.02% | 9.96% | - | 7.82% | 6.57% | - | 0.72% | 5.45% | - | 8.83% | 8.39% | 9.7% | 9.5% |
| Earnings before Tax (EBT) 1 | 2,122 | 1,798 | 1,906 | 1,192 | 748.1 | 1,532 | - | -824.8 | -644.8 | 1,129 | 762.8 | 907.7 | 1,437 | 1,880 | 1,741 |
| Net income 1 | 1,484 | 2,493 | 1,415 | 855.5 | 604.5 | 1,111 | 619.2 | -564.6 | -499.1 | 849.5 | 597.1 | 666.2 | 1,043 | 1,437 | 1,288 |
| Net margin | 8.35% | 11.69% | 8.09% | 5.04% | 3.45% | 4.91% | 2.81% | -2.82% | -2.48% | 3.45% | 2.48% | 2.98% | 4.5% | 5.49% | 5.16% |
| EPS | - | 32.38 | 18.38 | 11.11 | 7.850 | 14.42 | - | -7.330 | -6.480 | 11.03 | - | 9.567 | 13.70 | 18.60 | 16.70 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 1/23/21 | 5/12/21 | 8/5/21 | 11/10/21 | 2/4/22 | 5/11/22 | 8/6/22 | 11/8/22 | 2/4/23 | 5/9/23 | 8/8/23 | - | - | - | - |
1INR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 30,481 | - | 24,693 | 30,438 | 35,790 | 34,745 | 28,372 | 25,414 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.213 x | - | 1.846 x | 2.742 x | 4.636 x | 2.433 x | 1.686 x | 1.346 x |
| Free Cash Flow 1 | 6,444 | 3,505 | 5,249 | 2,586 | 1,745 | 5,986 | 6,966 | 7,792 |
| ROE (net income / shareholders' equity) | 5.83% | 10.9% | 12.2% | 6.91% | 0.67% | 7.19% | 9.33% | 10.4% |
| ROA (Net income/ Total Assets) | - | - | - | 3.3% | 0.29% | - | - | - |
| Assets 1 | - | - | - | 120,873 | 139,607 | - | - | - |
| Book Value Per Share 2 | 584.0 | 624.0 | 712.0 | 785.0 | 777.0 | 818.0 | 912.0 | 999.0 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 4,197 | 9,907 | 8,035 | 7,806 | 6,310 | 7,155 | 8,083 | 8,757 |
| Capex / Sales | 6.41% | 14.33% | 11.84% | 10.46% | 7.27% | 7.36% | 7.8% | 7.79% |
| Announcement Date | 5/3/19 | 5/22/20 | 5/12/21 | 5/11/22 | 5/9/23 | 5/4/24 | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
D+
Sell
Buy
Mean consensus
BUY
Number of Analysts
14
Last Close Price
1,484
INR
Average target price
1,826
INR
Spread / Average Target
+23.01%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +2.96% | 1.41B | |
| +20.81% | 49.34B | |
| +5.10% | 15.86B | |
| -0.69% | 15.83B | |
| -11.00% | 11.09B | |
| +31.77% | 9.21B | |
| +105.28% | 7.89B | |
| -6.31% | 7.69B | |
| -3.89% | 7.64B | |
| +33.99% | 7.04B |
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